On 21st October’14, BrilliantPennyStocks.com initiated coverage on IMLE. The stock declined by 6.67% since the coverage was initiated.
Transbiotec Inc (OTCMKTS:IMLE) announced in early September that it has entered into a Master Distribution Agreement with AG Global Capital. The agreement covers the distribution and sale of its SOBR branded alcohol testing device in Turkey, Sweden, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE and Azerbaijan by AG Global Capital. The tie up has been inked for a 10 year period and would start retrospectively from July this year.
Terms of MDA
The Master Distribution Agreement was arrived at by both firms’ after protracted negotiations. It spells out the rights and obligations enjoyed and guaranteed by AG Global Capital as the sole distributor of Transbiotec Inc (OTCMKTS:IMLE) patented alcohol testing device n the above listed market geographies.
Background To The Distribution Agreement
Transbiotec Inc (OTCMKTS:IMLE) over the years has mastered the design and manufacture of “non-invasive alcohol sensing system.” The design differentiates itself by leveraging the “ignition interlock” technology that will disable the engine of the vehicle in the event of detecting alcohol on the vehicle user. It has been attempting to increase its market footprint across new geographies and the above efforts to enter new countries have to be looked at in this perspective. The alcohol testing machine is made up of two parts. The first is an ethanol alcohol detection system and the other is an ignition interlock device.
Transbiotec Inc Had Filed Patent Application In 2012
Transbiotec Inc (OTCMKTS:IMLE) had in April of 2012 announced that it had filed patent application with the USPTO for its “transdermal alcohol sensing technology.” It is able to determine alcohol content in the blood of a user, by placing a finger on the sensor. At the time of patent application filing, the firm had shared, “the latest product improvements including advanced microprocessor control, expanded interfaces to standard computer bus systems and advanced data handling to provide
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